There's an old joke that explains world religions through the example of "Shit happens."
This is actually a very useful tool for understanding different world religions. I think that it's instructive.
So I thought that maybe we could attempt to do something similar to this in economics.
The basic economics version, of course, is the difference between microeconomics and macroeconomics.
There's actually been a tremendous amount of progress in macroeconomics over the last century, so if you want the macroeconomics version...
There are of course other fields in economics, which happens to be...
Then there are a couple of fan submissions.
I told folks that I would give them a free copy of my Cartoon Macroeconomics book if they submitted something that I used during the show tonight.
…which is actually a brilliant definition that no one will be able to use in class ever.
That is a very in joke among the environmental economics crowd.